Central Bank announces progress in the procedures of controlling the dollar
Economy News – Baghdad
The Central Bank of Iraq announced progress in the procedures for controlling foreign transfers and sales of the cash dollar and providing protection for the banking and financial sector from the risks of money laundering operations, following the ongoing talks of the Central Bank of Iraq with the Federal Bank and the US Treasury Department.
“The ongoing quarterly meetings with the Federal Bank and the US Treasury Department within the framework of organizing operations and coordination between the two sides, who have close relations, led to agreement on procedures and formulas that are commensurate with best practices and international standards, the latest of which was the plan to regulate external transfers by rebuilding them according to new standards and methods.”
Al-Alak added that “Iraq has made 95% progress with regard to the procedures for controlling foreign transfers and sales of the cash dollar and providing protection for the banking and financial sector from the risks of money laundering operations.”
The Iraqi government through the Central Bank of Iraq has been continuing its negotiations for about two years with the US Treasury Department to lift sanctions on some private banks operating in Iraq.
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Added 2024/11/12 – 8:52 PM
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